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Politics : View from the Center and Left

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To: TimF who wrote (104965)	2/26/2009 11:53:10 AM
From: Cogito	Read Replies (1) of 542617

>>Would Keynes Have Supported The Stimulus Bill?<< Tim - An interesting analysis. On the one hand, Kling argues that we are now in what some economists call a low risk tolerance investment phase, where business expansion must be paid for out of profits, as opposed to borrowing. There is a certain commonsense appeal to that notion. The theory seems to gibe with what we observe around us. Bit Kling then says that an investment tax credit would be the most effective form of stimulus. If businesses have lower profits, which they have now, then they don't have enough money to invest out of those profits to take advantage of a tax credit. - Allen

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